Data from Cointelegraph Markets Pro and TradingView confirm that BTC/USD has been largely stable near $16,800 during the holiday period, with reduced volumes having little impact on an already deflated market experiencing its lowest volatility on record.
Diverging Opinions on BTC Price Bottom
Opinions are divided on where the bottom for BTC price may be. Rekt Capital tweeted that if BTC fails to reclaim $17,150 as support before the end of the year, it will establish the $13,900-$17,150 range as its new trading range, which could result in a drop to the range low of $13,900, a 20% drop from current prices.
On the other hand, Il Capo of Crypto believes that bears are expecting a drop to $10,000, ignoring the support levels before that and that the 11k-13k range is a strong support that should hold. Meanwhile, Profit Blue has warned that $10,000 will mark the bottom of the Bitcoin bear market.
Trader Predicts Return of Volatility in the Next 48 Hours
Trader Elizy has predicted that the movement of BTC is approaching and that we may see some volatility return within the next 48 hours. Elizy provided a one-week BTC/USD chart showing significant support just above $13,000. However, others are content to wait for the current "chopfest" to naturally come to an end.
